Skanda Aerospace Technology Private Limited (SATPL) aims to build a plant in Hyderabad for Rs 250 crore.
SATPL is a joint venture between Raghu Vamsi Machine Tools (RMVT) and Rave Gears, LLC, Texas, USA, and its manufacturing plant is the first private firm in India to be capable of producing helicopter gears and gearboxes.
Rave Gears will own 55 percent of the joint venture (SATPL), while RVMT and Investors will own 45 percent. In the next 3 to 5 years, the JV business would invest Rs. 250 crore and employ 1000 people.
Rave Gears has also agreed to furnish Skanda Aerospace with $9 million in yearly orders.
